|02-11-2019 08:38 PM CET - Logistics & Transport||
Global automotive tires market is estimated to grow over the forecast period, the key players are Sumitomo Rubber Industries, Pirelli, Apollo Tyres, Hankook Tire, MRF, Cooper Tire & Rubber Company, JK Tyre, and Yokohama Tire Corporation.
Press release from: Kenneth Research
The Automotive tires market is expected to grow in the near future owing to the increasing demand and production of automobiles. The increase in research and technological developments so as to provide high-quality tires to increase the fuel-efficiency of automobiles, the increasing standard of living, growing passenger cars segment, the decrease in rubber prices are contributing to the growth of market. The decline in exports, the government regulations like taxation on foreign tires and fluctuations in the availability of raw materials and their prices pose some challenge to the growth of the market. One of the major drivers of the growth of this market is the increasing demand of eco-friendly tires. The eco-friendly tires are a means to make the automobiles fuel-efficient as these tires have less rolling resistance and hence lead to less fuel consumption.
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The end-users of automotive tires are the automotive vehicle end-users i.e. OEM and aftermarket. OEMs are the Original Equipment manufacturers who manufacture the tires to match the tire specifications of a particular car's make and model. Whereas the aftermarkets are the third party manufacturers who manufacture the tires in high volume to fit the tire specifications of more than a one vehicle, and not just one car's make and model.
The technology which is showing boom in the automotive tires market is the use of passive RFID tags in tires. The passive tags are used as they do not require any battery. Commercial truck tire manufacturers have started implanting radio frequency identification i.e. RFID tags in the tires while manufacturing them. This technology is beneficial to both the manufacturer as well as the truck fleets to track the tire performance. The RFID tag contains a microchip and an antenna. The microchip is used to store and process information and the antenna is used to transmit and receive signals. The RFID tag is surrounded by a transmitter, a receiver and a reader. Also. Bio-oils are now being used in tires to provide ecological tires for fuel-efficient driving experience.
The Automotive tires market has presence of well-established international, regional and local players. The large and medium vendors compete intensely for market share. The increasing demand for automobiles and increasing standard of living of the people in emerging economies is also attributing to the growth of this market, specially the passenger car segment. The opportunities of technological advances like use of bio-fuels to develop eco-friendly tires and RFID tags in the tires also drive the competitive advantage in this market.
The market is segmented mainly in terms of the application (vehicle type), geography and end-users.
By application, the market is segmented into:
Light Commercial Vehicles (LCVs)
Medium and Heavy Commercial Vehicles (M&HCVs)
By geography, the market is segmented into:
Asia Pacific excluding Japan
By end-users, the market is segmented into:
The APAC region except Japan has many emerging economies with high demand for automobiles and hence the automotive tires. APAC is the highest revenue generating region for the automotive tires market and is expected to show high growth in this market in near future. Also, Western Europe is expected to show similar growth rate pattern which is followed by North America.
The market has several opportunities with regard to development of technologies for providing ecofriendly tires so as to increase the fuel-efficiency of automobile vehicles. The passenger car and LCV segment also offers future opportunities in this market. Emerging trends like development of non-pneumatic tires and TPMS system have an impact on the future opportunities in the automobile tires market.
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Some of the major players in the market include:
Goodyear Tire & Rubber Company
The other players in the market include Sumitomo Rubber Industries, Pirelli, Apollo Tyres, Hankook Tire, MRF, Cooper Tire & Rubber Company, JK Tyre, and Yokohama Tire Corporation.
Report Contents Regional Analysis Report Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
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Rest of Asia Pacific
Middle East and Africa
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Rest of Middle East and Africa
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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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